Originally published on: October 28, 2024
Alchemy Pay recently made waves in the crypto world by announcing its plans to launch Alchemy Chain, a cutting-edge layer-1 blockchain. This innovative technology, built on Solana Virtual Machine (SVM) architecture, aims to meet the growing needs of the company’s payment operations.
The Alchemy Chain will revolutionize the way offchain storage interacts with blockchain-based transactions, paving the way for seamless integration of fiat currencies and cryptocurrencies without any friction. This forward-thinking approach sets the stage for a future where both types of currencies coexist harmoniously.
To cater to large-scale business applications, Alchemy Pay will also incorporate layer-2 solutions for account mapping and data synchronization. The ACH token will serve as the utility token for the upcoming blockchain, allowing users to pay gas fees while offering the flexibility to use fiat for transaction fees as well.
In addition to these exciting developments, Alchemy Pay has added a revenue mechanism for stablecoins, giving users an opportunity to earn yield. The company is also delving into memecoins, introducing tools such as a meme launchpad and Meme Telegram bot to support memecoin projects.
One notable integration by Alchemy Pay is with Samsung Pay, enabling crypto holders to spend their digital assets seamlessly. This move is expected to drive more demand from indirect users, as the spokesperson mentioned in an interview with Cointelegraph.
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